That's why Cramer said he'll be watching for movement on the fiscal cliff issue, but he'll also be paying attention to a plethora of earnings and economic data during next week's trading.

He said that the week starts on Monday, when Beazer Homes (BZH) and D.R. Horton (DHI) will provide an update on the home building market.

Then on Tuesday, a slew of retailers including Dick's Sporting Goods (DKS) , Home Depot (HD) , Michael Kors (KORS) , Saks (SKS) and TJX Stores (TJX) will be reporting. Each will tell a story said Cramer, whether its Dick's with outdoor apparel, Home Depot's reaction to Hurricane Sandy or Michael Kors and Saks with a read on high end fashions.

Turning to Thursday, it's Dollar Tree (DLTR) , Wal-Mart (WMT) , Gap Stores (GPS) , Target (TGT) and Ross Stores (ROST) taking center stage. Cramer said that he'd be a seller ahead of Wal-Mart, Gap and Target as these retailers could be hurt by Hurricane Sandy. He said Ross may see a bounce off its earnings.

Finally on Friday, Cramer said Foot Locker (FL) will report and provide an excellent look into the health of Nike (NKE)

Put Excitement in Your Portfolio

In a grim market like this one, investors need some stocks in their portfolios to keep them excited, Cramer told his audience, which is why speculating on biotech is just what the doctor ordered. Cramer said a stock like Tesaro (TSRO) just may fit the bill.

Tesaro has not been a public company for very long, noted Cramer, but it comes with great bloodlines. The company's management already has a proven track record of building companies and selling them for hefty profits. So far, shares of Tesaro are up a modest 11% from the initial public offering price of $13.50 a share.

Tesaro is an oncology-focused company that aims to help improve the lives of cancer patients. It's first drug, Rolapitant, was licensed from Opko Health (OPK) for a terrific price and is now in Phase III testing. That drug helps prevent nausea in patients undergoing chemotherapy.

Tesaro also has two other drugs in early stage testing, one to directly attack tumors and the other to treat specific lung cancers. With over $138 million in cash on its books and no debt, Cramer said that Tesaro is really a $10 stock with a very promising future.